The JCPenney earnings report for the third quarter of 2018 is out.
Here are some things to know about the most recent JCPenney earnings report.
- JCPenney’s (NYSE:JCP) losses per share for the third quarter of the year came in at 48 cents.
- This is worse than the company’s losses per share of 40 cents from the same time last year.
- Despite the drop, JCP’s losses per share did still come in above Wall Street’s estimate of 56 cents.
- The JCPenney earnings report for the third quarter of 2018 also includes revenue of $2.73 billion.
- This is down from the company’s revenue of $2.89 billion reported in the third quarter of the previous year.
- It also wasn’t able to match analysts’ revenue estimate of $2.81 billion for the quarter.
- JCP also reported a net loss of $151 million for the third quarter of 2018.
- The company’s net loss from the same period of the year prior came in at $125 million.
- Operating loss reported in the JCPenney earnings report for the third quarter of the year was $100 million.
- This is a wider operating loss than the $78 million reported in the third quarter of 2017.
- JCPenney also made an update to its guidance for 2018 by saying it now expects comparable stores sales to be down low-single digits.
- The company notes that the guidance update comes from gaining a new CEO and a new interim CFO.
You can follow this link to learn more about the JCPenney earnings report for the third quarter of the year.
JCP stock was up 2% as of noon Thursday.
As of this writing, William White did not hold a position in any of the aforementioned securities.